Nasdaq · October 27, 1997
Asian Crisis Shock — Nasdaq
-7.16%
single-day change vs previous close
What happened that day?
- 27 October 1997 — Nasdaq Composite fell 7.16%
- The index was then dominated by semiconductors and telecom equipment. Asia was both a major market and a manufacturing base for them
- Collapsing Asian currencies meant weaker demand there and cheaper competitors from there — a direct hit to earnings
- The decline didn't last. Stopped at 14.11% from peak
- The following year the Nasdaq began climbing sharply on the internet boom
- In hindsight, the Asian crisis paused the rise of US tech without changing its direction
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.